A Study of the Optimum Lot Size and the Newsboy Problem Under Random Demands

Sira Allende Alonso and SCarlos Bouza Herrera
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Sira Allende Alonso: Universidad de La Habana. Cuba.
SCarlos Bouza Herrera: Universidad de La Habana. Cuba.

Economic Analysis Working Papers (2002-2010). Atlantic Review of Economics (2011-2016), 2004, vol. 3, 1-25

Abstract: The determination of the optimum lot size is a stochastic problem because of the randomness of the demands. The usual approaches consider that the involved distributions are known. We consider the case in which they are unknown. The optimization problem is probabilistic constraint program. The demands are modeled by an autoregressive process and the needed quantiles are derived. The newsboy problem is revisited using the derived results.

Date: 2004
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Persistent link: https://EconPapers.repec.org/RePEc:eac:articl:03/03

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